WESCO International’s (WCC) Hold Rating Reiterated at Robert W. Baird
Robert W. Baird restated their hold rating on shares of WESCO International, Inc. (NYSE:WCC) in a research note issued to investors on Wednesday. Robert W. Baird currently has a $56.00 price objective on the technology company’s stock.
A number of other research analysts also recently weighed in on the company. BidaskClub downgraded WESCO International from a sell rating to a strong sell rating in a report on Wednesday, June 21st. TheStreet downgraded WESCO International from a b- rating to a c rating in a report on Wednesday, June 14th. Wolfe Research started coverage on WESCO International in a report on Tuesday, July 11th. They set an outperform rating and a $66.00 target price on the stock. Zacks Investment Research upgraded WESCO International from a sell rating to a buy rating and set a $64.00 target price on the stock in a report on Tuesday, July 4th. Finally, Northcoast Research started coverage on WESCO International in a report on Tuesday, July 25th. They set a buy rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. WESCO International currently has an average rating of Buy and a consensus price target of $67.07.
Shares of WESCO International (WCC) opened at 58.10 on Wednesday. The firm has a market cap of $2.79 billion, a PE ratio of 27.55 and a beta of 1.80. WESCO International has a 1-year low of $48.95 and a 1-year high of $76.15. The company’s 50-day moving average price is $53.91 and its 200 day moving average price is $58.64.
WESCO International (NYSE:WCC) last posted its earnings results on Thursday, July 27th. The technology company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.04. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business earned $1.02 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that WESCO International will post $3.74 EPS for the current year.
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In related news, CFO David S. Schulz purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $51.57 per share, for a total transaction of $206,280.00. Following the purchase, the chief financial officer now directly owns 9,000 shares of the company’s stock, valued at approximately $464,130. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Janney Capital Management LLC purchased a new stake in WESCO International during the 2nd quarter valued at $202,000. D.A. Davidson & CO. boosted its stake in WESCO International by 32.0% during the 2nd quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock valued at $204,000 after purchasing an additional 866 shares during the last quarter. Trust Co. of Vermont purchased a new stake in WESCO International during the 2nd quarter valued at $229,000. Quantbot Technologies LP purchased a new stake in WESCO International during the 2nd quarter valued at $238,000. Finally, OppenheimerFunds Inc. boosted its stake in WESCO International by 14.3% during the 1st quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock valued at $348,000 after purchasing an additional 626 shares during the last quarter. Institutional investors and hedge funds own 98.14% of the company’s stock.
WESCO International Company Profile
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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